Since World War II, the Long-Term Average Rate of Real

question 173

Multiple Choice

Since World War II, the long-term average rate of real GDP growth in the United States has been about:

• A) 1.35%.
• B) 3.25%.
• C) 6.5%.
• D) 13.5%.

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Definitions:

Vertical Axis

In a graph or chart, the vertical line or axis is typically used to represent the range of values for a dependent variable.

Consumption

The action of using up a good or service, typically one that satisfies human desires or needs.

Units

Standardized quantities used to measure, count, or quantify objects or phenomena.

Good X

A placeholder term commonly used in economics to refer to a generic good or product involved in an analysis or example.